WASHINGTON—The British Treasury chief said the U.K. was committed to a U.S.-led effort to put a cap on the price of Russian oil as a top Russian official said the country would refuse to sell oil at a capped price.
In an interview at the British Embassy in Washington, Chancellor of the Exchequer Nadhim Zahawi said he was confident the price cap plan would succeed. Finance ministers from the Group of Seven wealthy nations are expected to virtually meet on Friday and endorse an outline for capping the price of Russian oil, The Wall Street Journal previously reported.
